White RHM logo and text reading 'Real Estate Group' on a transparent background.

Surfside Towers

A Strategic Repositioning of a 55+ Community

Surfside Towers & Gardens is a 247-unit, 55+ apartment community originally built in 1969 that underwent a comprehensive operational and physical transformation after RHM assumed management in 2024. Over time, the aging property required strategic reinvestment and modernization to better serve its resident base while remaining competitive in today’s rental market.

Through thoughtful renovations, operational improvements, and strategic repositioning, RHM transformed Surfside and significantly improved both resident experience and overall performance.

The Challenge

  • Outdated Interior & Exterior Appearance: Aging common areas, worn finishes, and deteriorating exterior elements negatively impacted first impressions and overall curb appeal—especially important for a 55+ resident base that values comfort and accessibility.
  • Operational Inefficiencies: A full operational analysis identified the need for improved workflows and restructuring of on-site team responsibilities.
  • Outdated Systems and Communication: Existing systems did not support modern leasing processes or efficient resident communication.
  • Market Positioning Gap: The property lacked a clear strategy to compete effectively while serving a 55+ resident base with varying budget needs.

Our Solution

  • Full-Scale Renovations Led In-House: Completed comprehensive interior and exterior renovations, including updated finishes, flooring, and furniture in common areas, along with tuckpointing, exterior painting, balcony upgrades, and parking lot resurfacing and striping. All work was executed by Noble General Contractors, ensuring consistency, quality control, and cost efficiency.
  • Operational & Maintenance Improvements: Restructured on-site operations, implemented CRM systems, and brought additional maintenance and housekeeping services in-house to improve efficiency, response times, and reduce reliance on third-party vendors.
  • Strategic Revenue & Unit Positioning: Introduced a tiered unit strategy, selectively upgrading units to appeal to renters seeking renovated interiors while maintaining options at multiple price points to capture broader demand.
  • Utility Analysis & Recovery: Implemented a utility recovery program across all units to reduce operating expenses and improve long-term financial performance.
  • Brand, Marketing, & Community Engagement: Launched a new website, strengthened digital presence, and introduced ongoing resident programming to enhance both visibility and resident experience.

The Results

  • Strong Resident Retention & Experience: Achieved approximately 75% resident retention, reflecting increased satisfaction driven by upgraded living spaces, improved service levels, and consistent community engagement.
  • Sustained Revenue Growth: Delivered 12.5% total income growth from 2023 to 2025, including a 5.8% increase from 2023 to 2024 and an additional 6% growth from 2024 to 2025.
  • Enhanced Market Positioning: Renovated units successfully attracted renters willing to pay a premium for upgraded interiors while maintaining accessibility across multiple price points.
  • Reduced Operating Expenses: Utility recovery implementation and reduced reliance on third-party vendors contributed to improved cost control and overall financial performance.

A Thoughtful Transformation for Long-Term Stability

Surfside’s transformation demonstrates RHM’s ability to strategically reposition underperforming assets through a combination of targeted capital improvements, operational restructuring, and disciplined revenue strategy. By leveraging in-house capabilities through Noble General Contractors and internal service teams, RHM maintained control over quality, execution, and costs throughout the repositioning process.

The result is a more efficient, better-positioned asset that delivers improved resident satisfaction, stronger financial performance, and long-term stability. Surfside now stands as a clear example of how aligning physical improvements, operational strategy, and resident experience can drive measurable NOI growth and sustained asset value.

Copyright ©2026 RHM Real Estate Group